Question:
Classical and Neoclassical trade theory makes the case that free trade can bring a country to an optimum and economically efficient use of its resources; and, hence, it is an optimal trade-policy if the objective is maximizing long term economic growth. There are those who argue that the experience of the Asian Miracle countries, such as Taiwan, South Korea, and Singapore, verify this argument in the real world. Do you agree? Why or Why not?